First Estimates on Katrina Costs
For Washington Hit $200 Billion

The federal government could spend as much as $150 billion to $200 billion caring for the victims of Hurricane Katrina and rebuilding from its devastation, according to early congressional estimates -- a total bill that would far surpass the initial costs of recovering from the 9/11 terror attacks and could put Katrina on track to become the most expensive natural disaster in American history.

The early estimates are rough, but they are so high that some in Congress already are talking of creating a new government entity...